Aussie Forex was founded in 2005 and is now one of Australia’s preeminent money transfer provider – with offices in Sydney, Melbourne, and Perth. Currently, Aussie Forex enables customers to transfer money to 10 countries through different payout options

This Review is designed to unravel the company’s pros and cons and the quality of service they provide. We focus on the significant aspect that will help you determine if their service suits your money transfer needs.

About Aussie Forex 

Aussie Forex is secure, reputable and speedy in terms of their transfers. The company has been serving individuals and businesses to make convenient international transfers. They have been in business for several decades. 

How Aussie Forex Started

Aussie Forex & Finance Pty Ltd was listed as a company in Australia and established in the 21st June 2005. On 1st August 2005. It was initially for taxation as an Australian private company. The company was founded by Kamran Mirza, who is also the director of Aussie Forex.

Regulatory Compliance

Australian Securities & Investments Commission (ASIC) AFS License Number 431354. This gives the company a decree to trade and indulge in financial products.

Exchange Rate and Fees

Aussie Forex, same as the other money transfer companies, imposes a variety of fees and exchange rate margins on transaction concerning transfers. This is where the company gets its profit.

Exchange rates

Aussie Forex exchange rates are listed on their website for the public to see. As of April 2020, the company imposes a 0.86% margin for PHP to AUD that is 2.17 over the mid-market rate of 32.45. Their rate for SDG to AUD is 121.97 over the mid-market rate of 123.301 carrying a margin of 1.08%. Whilst, the VND to AUD rate is 14,897 against the mid-market rate of 15,041.90 with a 0.96% margin.

These figures convey that Aussie Forex usually charges exchange rate margins in the region of 1%. This margin is what sets them apart from their rivals as they offer competitive in the money transfer industry. This is extremely a better offer as banks usually hold 4% t 5% margin when initiating transfers.

Aside to Bangladesh and Pakistan, which rates for bank deposits are more favourable than those granted for cash pickups, the way of payment does not influence the exchange rate margin. Besides, they allow their customers to book or lock-in an exchange rate 2 nights in advance for transfers that is equivalent to $10,000 AUD or more.

Fees

Aussie Froex’s fees depend on where you’ll transfer the money to. For instance, when sending money to Bangladesh in Bangladeshi Taka (BDT), you will pay no transfer fees regardless of the amount. Besides, they assured their customer that they will never pay more than AU $10.

Additional Fees

Since Aussie Forex is a part of the SWIFT network, beneficiaries may be required an internal SWIFT fee that will be taken from their payments when receiving their money via bank deposits. 

Aussie Forex Pros and Cons

Here are some pros and cons to anticipate when utilising their services to send money overseas.

Pros

  • Competitive exchange rates
  • Low to zero transfer charges
  • Available Mobile app
  • Various payout methods

Cons

  • Insufficient sending and disbursing network
  • Limited customer support service available

Types Of  Transfers With Aussie Forex

Aussie Forex & Finance offer the following mode of transfers:

  • Cash payment
  • Bank account deposit
  • Home delivery

Other International Money Transfer Companies

You can check more of the money transfer companies HERE.

TorFX

TorFX allows you to register as in individual or business. It offers no fees for personal transfers and can provide scheduled transfers, stop-loss orders, forward contracts and limit orders. They are great to travel money solutions offered in the UK. They do not have cash pickups and multilingual website.

TransferWise

They serve individuals, businesses and online sellers. You can take advantage of their Borderless Account to hold funds in up to 27 currencies. The cost of a transfer depends on the currencies concerned, the transfer amount, and the payment mode.

CurrencyFair

You can register as an individual or a business. They allow scheduled transfers and offers a low transfer amount of €8. The transfer fee includes €3 plus 0.35% of the transfer amount

WorldRemit

WorldRemit allows you to transfer money to the cash pickup location or bank accounts. Their website is available in several languages with a low minimum transfer amounting to £1.

Frontierpay

The company provides scheduled transfers, market orders, and forward contracts. Their personal transfers are free of charge with the minimum amount you can transfer is at £500.

XE

XE is one of the big brands in terms of money transfers. They do not impose charges on personal transfers and hedge funds using limit orders.

Frequently Asked Questions

How to send money with Aussie Forex?

It is as simple as 1,2,3….

  1. Register online through our web site aussieforex.com.au.
  2. Log in & create your remittance.
  3. Pay Australian Dollars online.

Sourced from: Sourced: https://aussieforex.com.au/faq/

How much can you send?

Their overseas correspondent banks may have some limits which we incorporate in our online system. For example, in Pakistan, as per State Bank of Pakistan directives, a (COC) Cash Payout limit of PKR 500,000/per day per person is observed by all service providers. For further assistance, you can contact their customer support.

Sourced from: Sourced: https://aussieforex.com.au/faq/

When can you send money?

Their remittance portal provides a 24/7 online facility to send money overseas. For their office hours please visit https://aussieforex.com.au/contact.php or call them on 1300 852 334.

Sourced from: Sourced: https://aussieforex.com.au/faq/

How long does it take for transfers?

Your remittance is processed once we receive clear funds in our nominated bank account. In most circumstances, the cash payments are made on the same day, whereas for account transfers, the funds may hit the beneficiary a/c within 3 working days. For non-online accounts, the process may take 3 to 7 working days.

Sourced from: Sourced: https://aussieforex.com.au/faq/

How can a recipient get the money?

Your beneficiary can get the remittance in the following two ways,

  • Cash over Counter: The beneficiary can collect cash from the bank’s counter by showing their acceptable ID along with the PIN provided by us.
  • Account Deposits: The beneficiary will get the money direct in their bank account.

Sourced from: Sourced: https://aussieforex.com.au/faq/


Company Details
  • Company Name: I PERSONNEL GROUP (SYDNEY NSW) LIMITED
  • Registration Number: 09593205
  • Incorporation Date: 2015-05-15
  • Status: Dissolved
Loan Details
  • APR: See Website
  • Loan Amount: See Website
  • Repayment Duration: See Website
Contact Aussie Forex International Money Transfer Review
  • via Phone: +612 9262 5062 OR 1300 85 2334 Call
  • via Email:[email protected] Email
  • via Post: 26 Kinloch Place Kinloch Place, Bletchley, Milton Keynes, England, MK2 3NN